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(Bloomberg) -- Apollo Global Management Inc. and Caesars Entertainment Inc. have approached U.K. gambling group William Hill Plc about a potential takeover.William Hill has received separate cash proposals from the two groups, it said in a statement Friday after Bloomberg News reported on the Apollo approach.Talks are ongoing and there is no certainty that a formal offer will be made, William Hill said. Shares of the bookmaker rose as much as 41% in London trading on Friday, hitting their highest level in more than two years and giving the company a market value of about 3.1 billion pounds ($3.9 billion).A representative for Apollo declined to comment.Apollo has a history of investments in the gambling sector. It teamed up with TPG for a 2008 leveraged buyout of Harrah’s Entertainment Inc., which was later renamed Caesars Entertainment. William Hill is a partner of Caesars and the two are in discussions about merging some...
Traders have to be ruthlessly myopic at times. They look at a stock like Occidental Petroleum (NYSE:OXY) and immediately think of Warren Buffett's axiom to be brave when others are fearful. So they buy OXY stock while others are avoiding it. But being cautious isn't the same as being fearful. And being bold doesn't always mean you're making the best trade. But here we are.Source: Pavel Kapysh / Shutterstock.com OXY stock fell over 75% between Feb. 21 and March 20. Since that time, the stock has basically stayed at the same level. It had one brief rally in early June when it climbed nearly 90% in two weeks. But the stock gave up most of those gains in July. And after the company's most recent earnings report in August, Occidental stock has been moving towards the single digits. Why Words MatterWhen you look at the transcript of the company's earnings call...
LAVAL, QC and DEER PARK, Ill., Sept....
Luckin Coffee (OTCMKTS:LKNCY), the controversial, downtrodden Chinese coffeehouse operator, is finally taking some steps in the right direction, but Luckin stock remains a gamble.Source: Keitma / Shutterstock.com Still reeling from the effects of a revenue-inflating scandal that took Luckin from being a Chinese growth darling to trading over-the-counter, the company recently reappointed Sean Shao, one of its four independent directors, to the board.Board appointments usually don't move stocks. But in Luckin's case, Shao's reappointment was positive because it indicates the company, once plagued by corruption at the top, is prioritizing independence on its board.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere's chatter that at some point, Shao, who led Luckin's internal investigation into the scandal, could eventually become chairman. Speaking of the scandal, China's finance ministry recently fined the coffee company nearly $9 million. All things considered, that's a minor punishment, given the gravity of the situation."We have carried...
After Tesla (NASDAQ:TSLA) failed to deliver any meaningful news for investors the highly-anticipated Battery Day, TSLA stock dropped more than 15% in two days this week.Source: Vitaliy Karimov / Shutterstock.com Once again, CEO Elon Musk delivered more promises and projections and few actual results. Musk announced Tesla will produce a $25,000 electric vehicle "about three years from now."The pledge was a verbatim repetition of Musk's 2018 claim that Tesla would produce a $25,000 EV "in about 3 years."InvestorPlace - Stock Market News, Stock Advice & Trading TipsAt this point, most reasonable Tesla bulls and bears don't really take what Musk says seriously. But for anyone looking to buy the Tesla stock Battery Day sell-off, the share price may still have a long way to go before it reaches an appropriate range. Analyst Take on TSLA StockThe first place to go to assess value is Wall Street. Tesla is one of the...
The three major indices’ modestly higher closes earlier in the day belied an ongoing bout of volatility in equity markets over the past several weeks....
(Bloomberg) -- In Moscow, analysts for the Kremlin and its Security Council are working overtime to war-game scenarios for a Joe Biden presidency.Increasingly alarmed at the prospect of a White House without Donald Trump, Russia is trying to determine what that’ll mean for sensitive issues from nuclear arms to relations with China, energy exports, sanctions and far-flung global conflicts, according to people familiar with the efforts. Though few see much prospect for improved ties if Trump is re-elected, Biden would likely be bad news for Russia, people close to the leadership said.A Democratic victory may even give the Kremlin another reason to tear up its own electoral calendar, moving up parliamentary elections to the spring to get them out of the way before a new administration has time to impose additional sanctions or other penalties, according to a person close to the Kremlin, who spoke on condition of anonymity to express that...
